Author: Jim Phillips 2015-05-26 02:26:42
Published on: 2015-05-26T02:26:42+00:00
In an email exchange, Mike Hearn argued that the Bitcoin network must expand its capacity in order to continue functioning properly. He dismissed the notion that datacenter-sized nodes would be necessary to match transaction demand with today’s hardware, suggesting instead that a single, well-spec’d server could keep up with VISA. Hearn, a former capacity planner for Bank of America, declared that Bitcoin was not leaking resources and was performing as intended, but that usage was increasing rapidly and the system had hit its capacity limit. He called for action to expand capacity by increasing the block size limit and suggested that most existing computer systems and networks could easily handle 20MB blocks every 10 minutes. Furthermore, he advocated for letting miners decide how to charge enough to pay for their costs, rather than crippling the network just for them.
Updated on: 2023-06-09T21:04:05.891575+00:00